John Is a U

question 49

Multiple Choice

John is a U.S. citizen who works for Walmart located in France. John's work contributes to:

• A) U.S. GDP, but not U.S. GNP.
• B) U.S. GNP, but not U.S. GDP.
• C) both U.S. GDP and U.S. GNP.
• D) neither U.S. GDP nor U.S. GNP.

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Definitions:

Learning by Doing

The process of gaining skill or knowledge from direct experience or practice.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, which often leads to a reduced cost per unit of output.

Diseconomies of Scope

A situation in which a single firm producing multiple products has higher costs than if each product were produced by a separate firm.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, which often leads to a reduction in average cost per unit as scale is increased.